KPN expects to return to growth

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Telecoms group KPN said on Tuesday it expects to return to growth in the second half of this year, driven by its international mobile phone activities.


The former state monopoly booked a 1.7% drop in sales in the second quarter at €3.6bn. Net profit was up 26% at €465m.
KPN said its international activities ‘performed very well’ particularly in Belgium and Germany.
‘We are satisfied with KPN’s performance in the second quarter, with profitability growing for the eighth consecutive quarter,’ said CEO Ad Scheepbouwer in a statement. ‘The continued focus on costs, customer value and market shares … have led to stable EBITDA in a competitive market.’

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